Heritage Trust Co Acquires Shares of 2,033 Analog Devices, Inc. (NASDAQ:ADI)

Heritage Trust Co acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,033 shares of the semiconductor company's stock, valued at approximately $432,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new position in Analog Devices in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners purchased a new position in Analog Devices in the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Performance

NASDAQ:ADI traded up $0.88 on Thursday, reaching $176.81. 1,552,463 shares of the company's stock were exchanged, compared to its average volume of 3,450,005. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a market cap of $87.69 billion, a price-to-earnings ratio of 56.40, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a fifty day simple moving average of $207.12 and a 200-day simple moving average of $215.03.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.24%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has authorized a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. Citigroup lowered their target price on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. raised their price target on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Benchmark boosted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. Finally, Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and an average target price of $254.05.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,684 shares of company stock worth $5,591,600. Company insiders own 0.33% of the company's stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.